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Increased lending as economy grows

Machinery

Santander has hailed a 25% increase in Humber lending as evidence of the region's growing economic clout. Santander launched a £50m fund for the region's small and medium-sized manufacturers in June, backing an expected surge in industry after Siemens' decision to set up a world-leading wind turbine plant in Hull. Jonathan Thompson, Santander's Regional Director for South Yorkshire & the Humber, believes the move has paid off and said the bank was now supporting firms with bold ambitions. He said: 'Santander is well-placed to support the international growth of the region. Santander has a number of unique initiatives to support the trading and ambitions of internationally minded businesses. Our unswerving commitment to the manufacturing sector remains.' The bank lent £25m to regional companies last year and aims to further increase that amount, though £40m of its manufacturing loan fund remains available. Thompson said more money could be made available if there was sufficient call for it. 'We will increase this if demand dictates and so we remain very keen to hear from local manufacturers looking for funding support,' he said.

 

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